Asked by Angelique Cobilla on Apr 30, 2024
Verified
Which of the following establishes how a franchise agreement will be terminated?
A) The franchise agreement
B) The Uniform Franchise Termination Act
C) The Franchisor-Franchisee Protection Act
D) The Franchisee Protection Act
E) The Uniform Commercial Code
Franchise Agreement
A contract whereby a company (the franchisor) grants permission (a license) to another entity (the franchisee) to use the franchisor’s name, trademark, or copyright in the operation of a business and associated sale of goods in return for payment.
Termination
The act of ending something, such as employment or a contract, often following a specific procedure or due to certain conditions being met.
Uniform Franchise Termination Act
A legal statute that standardizes the process and conditions under which a franchise relationship can be terminated.
- Comprehend the establishment, functioning, and dissolution of franchises.
- Recognize the necessary legal paperwork for establishing particular business entities and understand their lawful consequences.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
A
Explanation :
The franchise agreement establishes how the franchise will be terminated.Courts usually rely heavily on the written franchise agreement when determining whether a franchise was wrongfully terminated.
Learning Objectives
- Comprehend the establishment, functioning, and dissolution of franchises.
- Recognize the necessary legal paperwork for establishing particular business entities and understand their lawful consequences.